Farmers and traders have credited this year’s bumper harvest for the steep drop in beans and cowpea prices, now down by over 50% from 2024 levels.
The Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) says bumper harvests have caused a major crash in the price of beans and cowpeas across Nigeria.
Stakeholders told the News Agency of Nigeria (NAN) on Sunday that improved yields, pest control, and better farm access contributed to the price drop.
“A bag of beans in the North now sells between ₦80,000 and ₦120,000, compared to over ₦200,000 last year,” said C&BFPMAN President, Kabir Shuaibu. “We harvested over 10 times more than usual.”
Wholesalers and consumers also confirmed the price drop. “A paint bucket was ₦13,000 last year; now it’s ₦6,000 to ₦7,000,” said Lagos trader Zainab Ahmed.
Fresh2Home MD Esther Umeileka cited fewer pest issues and better crop quality, while civil servant Favour Braye noted improved farm security.
“The price of beans has really dropped… more people can now afford beans,” Braye said.